Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

https://twitter.com/bullwavesreal

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

First EURUSD doesn’t want to turn down from the top,
and now EURUSD won’t turn up from the lows!
That’s Europe in a nutshell for you!

I am sticking with the idea that we are forming a short term low here for wave ‘i’ and turning higher into wave ‘ii’ now.
The price has retraced most of the previous wave ‘c’ rally and that is more than enough to confirm wave ‘i’ down.

The double bottom today is labelled as wave ‘b’ of ‘ii’ again,
and I suspect the pattern may be tracing out a flat correction here.
Wave ‘c’ should run higher towards 1.09 again over the next few sessions to complete this pattern.

Tomorrow;
The minimum target for wave ‘c’ of ‘ii’ lies at 1.0830.
but five waves up is likely to hit that previous fourth wave high at 1.09.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable did break to a new low today and that has forced me to rethink the pattern off the top.
I am showing a similar pattern again this evening,
except the initial decline in wave (i) has an extended pattern into the low at 1.2391.
And wave (ii) is shown as an expanded flat correction again.
The target range for wave ‘c’ of (ii) lies between 1.2482 and 1.2432.

Tomorrow;
Watch for wave ‘c’ to complete in that range and then turn lower into wave (iii).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is holding at the highs of last week again today,
we have come a long way now,
and I think we are close to completing this pattern in wave (i) now.
one more pop above 139.00 again would satisfy my greedy side here.
And then I will begin looking lower again into wave (ii) for the remainder of the week.

Tomorrow;
Watch for wave ‘v’ of (i) to complete this rally with a break of 139.00.
A break below 138.00 again will be enough to signal wave (ii) has begun.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well the Dow is stepping lower as I hoped for today although this decline has not achieved enough to confirm that wave ‘iii’ is underway here.
Its still a question here if the market has actually begun the larger decent into wave ‘iii’ of (i) now.
But what I can say is the balance of probability firmly favors that idea now.
A solid break of that wave ‘i’ low again at 32933 will be enough to confirm wave ‘1’ of ‘iii’ is in play here.
This pattern requires another corrective lower high in wave ‘2’ before the main acceleration lower begins.
for the moment,
I can at least say that this bearish count is developing quite well even without the big drop to confirm the larger pattern.
That should come in time.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to break to a new low below 32900.
A complete five waves down in wave ‘1’ should complete below that level.
and then wave ‘2’ will come our way later in the week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Its a case of so far so good in gold also today.
The main count is still valid here for wave ‘iii’ down.
But the market has not completed a five wave pattern within wave ‘iii’ down yet.
I would prefer to see a break below 1950 again to finish this wave,
and then wave ‘iv’ is free to correct higher again later on.
But as I write tonight,
the price is drifting higher in wave ‘4’ of ‘iii’ again.
And the higher we go here,
the closer we get to that invalidation line at 1999 again.

I am suggesting that wave ‘4’ of ‘iii’ is tracing out a flat correction here.
And that pattern must compelte at 1983,
and then wave ‘5’ must begin.

Tomorrow;
Watch for the wave ‘4’ to complete at 1983 and then turn lower to break 1950 again to complete wave ‘5’ of ‘iii’.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

this pattern got a shake up today after almost breaking out above the previous wave [ii] high again.
That resistance at 73.79 remains unbroken tonight,
and I can still suggest this rally is wave (ii) of [iii].
I do need the price to fall quite sharply tomorrow to back up this interpretation here.

So,
wave ‘i’ of (iii) must fall below 70.63 again in order to revive this wave count again and kick off the next leg down into wave (iii).

As for the alternate count,
This action can still be viewed as part of wave (b) of [ii] also.
and even that count will require wave ‘c’ of (b) to fall into 69.00 again to complete.

Tomorrow;
Watch for wave [ii] to hold at 73.79.
Wave ‘i’ of (iii) must fall below 70.63 tomorrow to save this short term count for wave (iii).
A break of that wave [ii] high again will trigger the alternate count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays decline is in line with the main wave count but just like the Dow,
the action has not done enough to confirm the count yet.
Wave ‘i’ down is my preferred count here,
but the market has only traced out three waves down so far.
I am looking for a break of 4100 in wave ‘3’ of ‘i’,
and possibly a break of 4045 again to compelte wave ‘i’.
that has not happened yet so I remain cautious here regarding this reversal.

Tomorrow;
I want to see wave ‘3’ of ‘i’ break below 4098 again to give this bearish pattern a real chance to build.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver broke to a new low today but I this count still holds here.
That new low only happened in three waves overall.
and so this expanded flat pattern is still in play for wave [b].

I am still looking for a rally in wave (c) of [ii] to break above 24.00 to complete this pattern.
And wave (c) should trace out five waves up to that target.
The bounce off the session low is wave ‘i’ of (c).

Tomorrow;
Watch for wave (c) to continue higher towards 24.00.
Wave ‘ii’ should complete a higher low above wave (b) early tomorrow.